Cash For Clunkers Rules
The Clunker Vouchers Come With Requirements
Think that just by buying a more fuel efficient car you can get $4500 from the government under the Cash For Clunkers Program? Think again, there are certain rules and requirements that make the Cash For Clunkers Rules specific for certain car buyers. Let start with the trade in car. Your car will be sent to a salvage yard so because of that rule don't expect to trade in a car worth more than $4500 or $3500 for trucks unless you want to take a loss. You'd be better off selling your car or doing a standard trade in if your vehicle is not truely a clunker. Your trade in clunker cannot be older than 25 years old. An odd requirement considering the goal is to get less fuel efficient vehicles off the street. Another rule is that you must purchase a new or lease a new car or truck. Used vehicles are not covered under the program regardless of their fuel efficiency. Your current clunker must get gas mileage worse than 18mpg which many cars actually exceed. As you can see Cash For Clunkers is not for everyone. You may be better off with a standard purchase. Auto makers are also launching their own promotions such as the Chrysler Cash For Clunkers sale where they will match the $4500 and you can do a standard trade in which may be a better deal.
One nice Cash For Clunkers rule is that you no longer need to obtain a voucher. Your car dealer will add the Clunker credit to your sale reducing the price by $3500 or $4500.
